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These gains don't cause pain. A capital gain is the amount of money you pocket by selling one of your investments for more than you paid for it. Technically, capital gains only count for what's called a capital asset, but that's really just anything you own for investment purposes. Stocks and bonds obviously qualify, but your house and household furnishings can also count.
For tax purposes, capital gains are classified as either long-term (held for more than one year) or short-term (held for less than one year) and there are different tax implications for how long you hold onto a capital asset. For most long-term capital gains, you're taxed no more than 15% of the value of the asset. Short-term gains get taxed as regular income, so you pay the rate for the tax bracket you're in.
Capital gains can also be realized or unrealized. When you physically sell an asset like a stock, you've realized the capital gain. When you're holding the stock, and it has a value over its purchase price, but you're not selling it, you've got an unrealized gain, and you won't realize it until you sell.
In a perfect world, we'd all have capital gains. But no one¿s that smart or lucky. When the value of an asset at sale is below what you've paid for it, it's called a capital loss. The good news is that the government lets you count that loss against any gains you've had, lowering the taxes you pay. In fact, many people who sell a stock that has risen far over their purchase price tend to sell some stinkers, too, at the same time for the tax benefit. This is known as a capital-loss offset.
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Wednesday, June 11, 2008
Grenville Gold Cancels 1,277,220 Stock Options
Comtex
VANCOUVER, BRITISH COLUMBIA, Jun 11, 2008 (MARKET WIRE via COMTEX) ----Grenville Gold Corporation ("Grenville" or "the Company"), (TSX VENTURE: GVG)(PINK SHEETS: GVLGF)(FRANKFURT: F9I)(WKN: A0KELU) announces that it has cancelled 1,277,220 stock options granted to certain former directors, employees and consultants.
"Our focus is to limit dilution of the company's shares while joint venture partners develop our properties in the San Mateo area of Peru where there is ground staked by major mining companies, current mining activity by small-cap and mid-tier companies and several historic mines." stated A. Paul Gill, President & CEO, "At the same time, listing on the Peru Stock Exchange, the Bolsa de Valores de Lima SA, will increase exposure to knowledgeable retail and institutional investors in South America."
Grenville's Silveria Project is currently under a joint venture with Journey Resources Corp., subject to regulatory approval. Grenville intends to develop its Silveria polymetalic project, which is located in the Huarochiri Province of Peru approximately 90 km northeast of the city of Lima and covers 3,959 hectares of mineral concessions. The Silveria project area includes four historic mines: the Pacococha, Millotingo, Germania and Silveria mines. The project is 2-4 kms from the Corichanca Mine owned by GoldHawk Resources. The more significant mines during its period of operations were the Millotingo mine which produced lead, zinc, gold, copper and primarily silver and the Pacococha mine which was predominantly lead, zinc, silver and copper.
About Grenville Gold Corporation
Grenville Gold www.grenvillegoldcorp.com is a junior resource company seeking prospective properties in Peru. Grenville Gold plans to leverage the experience of its board and management in exploration and mining to develop its growth strategy in North and South America.
On behalf of the Board of Directors,
Mel Rokosh, Director
We Seek Safe Harbour
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.
The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Grenville Gold Corporation Paul Gill (604) 669-8842 Email: info@grenvillegold.com Website: www.grenvillegoldcorp.com
SOURCE: Grenville Gold Corporation
mailto:info@grenvillegold.com http://www.grenvillegoldcorp.com
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